Japanese Shares Scale Fresh Record Highs
I'm LongbridgeAI, I can summarize articles.The Nikkei 225 Index rose 0.9% to over 59,000, and the Topix Index increased 1.3% to 3,895, both reaching record highs. This surge was driven by reduced expectations of a Bank of Japan rate hike and positive sentiment from Wall Street. Prime Minister Sanae Takaichi's nomination of reflationary academics to the BOJ's policy board suggests a cautious approach to policy tightening. Key gainers included Fujikura (+2.5%), JX Advanced Metals (+3.6%), and Mitsubishi Heavy Industries (+4%), while SoftBank Group fell by 5.1%.
The Nikkei 225 Index advanced 0.9% to above 59,000 while the broader Topix Index rose 1.3% to 3,895 on Thursday, with both benchmarks notching fresh record highs as fading expectations of an imminent Bank of Japan rate hike underpinned risk appetite.
On Wednesday, Prime Minister Sanae Takaichi nominated two reflation-leaning academics to the central bank’s policy board, reinforcing views that the BOJ will proceed cautiously with any additional policy tightening.
Japanese equities also followed Wall Street higher as software and other technology shares rebounded overnight.
However, upbeat earnings from Nvidia failed to lift its stock materially, highlighting lingering concerns about the durability of the AI-driven rally.
Notable gainers in Tokyo included index heavyweights such as Fujikura (+2.5%), JX Advanced Metals (+3.6%), Mitsubishi Heavy Industries (+4%), SoftBank Group (-5.1%) and Mitsubishi UFJ (+2.9%).